The "boilerplate" of an INSP "Press Release"...
For the first time I actually read an entire InfoSpace Press release, including all the misc. stuff at the bottom, which for me seems to perhaps explain a few things. The way I read it, they can make a big splashy press release announcing some incredible partnership or "deal," but they feel they are UNDER NO OBLIGATION to inform the public, Wall Street, or the shareholders if one of their "announced" deals doesn't pan out. (ie. Winfire, Vodaphone?, AT&T Wireless?, or the Digeo Partnership???). It sure doesn't come under the term "full-disclosure" to me. When shareholders or potential investors don't know the truth, whole truth, and nothing but the truth...just how can they be expected to make "informed" decisions regarding a company? In other words, they can "announce" to the world a "forward-looking" news statement, but it's somehow a "company secret" if the announced "deal" falls through, or is materially changed for some reason. IMO, there ought to be a law...
Excerpt from bottom of the
"Infospace and MSNBC Enter Agreement..."
INSP press release of 3/6/2001 (bold added):
This release contains forward-looking statements relating to the development of the company's products and services and future operating results, including statements regarding the Company's content licensing agreement with MSNBC.com, that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The words "believe," "expect," "intend," "anticipate," variations of such words, and similar expressions identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could affect the Company's actual results include growth rates within the Company's respective business areas, the progress and costs of the development of our products and services and the timing of market acceptance of those products and services. A more detailed description of certain factors that could affect actual results include, but are not limited to, those discussed in InfoSpace's Annual Report on Form 10-K, in the section entitled "Factors Affecting InfoSpace's Operating Results, Business Prospects and Market Price of Stock." Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. InfoSpace undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. |
